ACV Auctions Inc. $ACVA Position Reduced by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its position in ACV Auctions Inc. (NYSE:ACVA) by 58.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 651,344 shares of the company’s stock after selling 917,688 shares during the period. Granahan Investment Management LLC owned approximately 0.38% of ACV Auctions worth $6,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after acquiring an additional 5,475,874 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of ACV Auctions in the 3rd quarter worth approximately $17,103,000. ArrowMark Colorado Holdings LLC lifted its stake in ACV Auctions by 30.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after purchasing an additional 1,475,932 shares during the last quarter. Hawk Ridge Capital Management LP bought a new stake in ACV Auctions during the third quarter worth approximately $14,502,000. Finally, Senvest Management LLC boosted its holdings in ACV Auctions by 144.8% during the second quarter. Senvest Management LLC now owns 1,689,290 shares of the company’s stock worth $27,400,000 after buying an additional 999,290 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

Insider Activity at ACV Auctions

In other ACV Auctions news, CEO George Chamoun purchased 24,272 shares of the stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the acquisition, the chief executive officer owned 2,952,977 shares of the company’s stock, valued at $14,912,533.85. This represents a 0.83% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ACVA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of ACV Auctions in a report on Tuesday, February 24th. Wall Street Zen raised ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. Citigroup cut ACV Auctions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $7.00 in a report on Tuesday, February 24th. B. Riley Financial cut their target price on ACV Auctions from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada raised ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ACV Auctions presently has an average rating of “Moderate Buy” and an average target price of $11.32.

ACV Auctions Stock Down 0.3%

Shares of NYSE:ACVA opened at $4.85 on Monday. The firm has a 50 day simple moving average of $7.04 and a 200 day simple moving average of $8.15. ACV Auctions Inc. has a 52 week low of $4.45 and a 52 week high of $17.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $843.37 million, a PE ratio of -12.75 and a beta of 1.69.

ACV Auctions (NYSE:ACVA) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The firm had revenue of $183.65 million for the quarter, compared to analysts’ expectations of $181.96 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis.

ACV Auctions Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.